Record Coarse Grain Crop Forecast

WASHINGTON - May 11/07 - SNS -- The world's coarse grain harvest could reach a record 1.1 billion metrioc tons (MT) in 2007-08, up 8% from 2006-07, according to the latest forecasts from the USDA's World Agricultural Outlook Board.

Rising corn production in the United States accounts for much of this increase; however, corn production is also expected at record levels again in 2007-08 in Argentina and Brazil. Increases in corn production are also expected for Canada, China, FSU-12, India, Mexico, and several other countries.

Barley production is expected to increase in Australia. Despite higher world coarse grain output, lower carryin and rising consumption leave world ending stocks down 3% from this year's projection.

The 2007-08 U.S. coarse grains outlook is for sharply higher feed grain production primarily from expanding corn acreage and record output. Sorghum, barley, and oat production are also expected to rise. Despite record feed grain output, U.S. feed grain stocks will rise just 1%.

Subscribers can read the full text of the article by Clicking here